06 Ways to Turn your Inventions Ideas into a Product

Turn Your Passion into Business

Do you want to make your own product and make money from it?
You don’t want to stay poor and you hate your nine-to-fie job. Then you are fortunately
at right place. In this few minutes read I’m going to talk about making your
own product and make money from it.

I’ll explain to you how to transform the thoughts in your
mind into an invention idea. It only requires five steps from your idea to be a
product that can be marketed. So, despite wasting your precious time let’s get
started.

Research Your Idea

The first and the foremost step is to research your idea. This step is divided into two parts. Patent your product and do a market research.

First is initial patent search. It doesn’t mean that your
invention idea won’t be out there in the market. Research thoroughly because it
is very important from legal and business point of view, because, if you find
any design or art work related to your idea you cannot patent it.

Second is the market research regards to your business plan
and this you search the market for your competitor and find answers to the
following question. What an I building? Whom my invention will serve? What are
my promises to my customers and myself? What is my strategy, aims, and action
points to complete this?

Documenting Your Idea

It is completely worthless if you just have an idea, you have no proof that when you came up with that idea. Document everything about your invention idea. Grab a notebook and write down the details of your inventions idea. You should be detail oriented about your invention because it’s going to make you a rich and successful person in the world. Grab a notebook and write down what it is? How do you create the product? And how you will market it.

This is the most important step that is required before you patent
your idea and saving it from being stolen.

Make the Prototype

Building a prototype of your design is very important
because you patent your product there will always be flaws in your original
design. You may find room to add some new features to it. But, if you get
patent before making a prototype, you might be risk that your idea will may be
rejected to be registered.

Patent Filing

After you done all the required steps it’s time to file a
patent for your idea. There are two main patents one is Utility Patent and the
other is Design Patent. You can fill the form and write a patent for yourself. But
I will suggest you and It is wise decision that don’t file it before having it
verified from professional patent attorney who is also registered with US
Patent and Trademark Office. If you are in different country, you can check out
different attorneys in your area.

Marketing and Brand awareness

Present world is more digitalized and people more genius then
before. There might be thousands of products out there that may be according to
people needs. Let’s take an example of smartphone. There are a lot of vendors
out there that manufacture smartphones with a lot of features in them.

There are almost 70 companies out there that make phones but few of them are popular such as Apple, Samsung, and Huawei. These are market leaders as there marketing strategies are strong as their products. They all make strong products too but spent millions of dollars on marketing their products in shape of ads on Electronic as well as on print media. When your invented something that is great and loved by its users, then here is the time to market your invention idea to achieve commercial success.

Your Product Idea is Your Business Idea

Treat your invention idea as your future business because it
is going to be transformed into a product that will be sold to the people. Open
your mind, analyze, understand the market, production costs, selling price,
profits, its potential, and competition before you market your product.

Whether you will manufacture it on your own or will you
license it to sale to someone other company. If you license your product you
will receive about 5% as a royalty. But the advantage here is that you will be
free from the financial problem and it is the best in the case if you think
that I have an invention idea but no money.

An aeronautical associate engineering by profession. Excellent observer and learner about surroundings. Full-time content manager at Tech lobsters. I love the philosophy of world and mankind, I don't know much about, but pretty much anxious and struggling to know about.

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Basic Steps For Starting On Your Invention Idea

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